- There are only 4,000 more working Americans.
- At the same time, there are another 115,000 in the unemployment line.
- That disparity is because of an expanding labor force, which grew 119,000.
- The participation rate measures the percentage of the adult civilian population who held a job during the month or simply sought one.
- It remained at 62.8%.
- That is a 36 year low.
- In California it is only 62.3%.
- Full-time jobs declined by 150,000, while part-time positions increased by 77,000.
- U-6 Unemployment is at 11.4%. This is a more realistic representation of unemployment as it also includes
- all the people who want a job but gave up,
- all the people involuntarily stuck with part-time jobs, and
- the people who dropped off the unemployment tally because their unemployment benefits expired.
- Meanwhile, many who've stopped looking for work are relying on government disability benefits. From 2000 to 2012, the number of Americans filing disability claims soared 80% to 9 million from 5 million — a much faster rate than the previous decade.
Sources: CNBC, CNSNews, NY Times, Mish's Global Economic Trend Analysis, LA Times, and the Social Security Administration.
